- The LTC/USD pair is heading downwards
- The next stop for Litecoin could be $40
- Litecoin’s key resistances seat at $46, $48, $50
Litecoin news today – Litecoin has posted a fresh drop on the day. In the digital assets’ recent price decline, the LTC/USD trading pair lost around 0.74%. By doing this, the coin formed a new wave. This doesn’t come as a surprise since the digital asset has had an unstable year so far. Since the March crash, Litecoin hasn’t managed to post a steady upward action. The coins’ price action has been slow when it comes to posting favorable rallies. Just as it was looking like LTC has started seeing some kind of steady rise, the trading pair took the downhill road and is now on the drop after losing 0.74% in the last 24-hours of trade.
Litecoin Price Prediction – Litecoin is Now Concentrated at $42.49
After touching $43.84 which is a daily high today, LTC was seen trading at $43.49. Later on, it started to hover around $42.99. The coin has been dealing with delayed recovery. It has given great results in recent times. But the digital asset is speculated to retain similar momentum in some time. Litecoin’s current market situation may take a while. Once it has been lifted, the coin could shine once again. If Litecoin fails to rally from its current position, the chances of more drops will be greater. If the pair breaks below the $32 support, it could provoke a deeper drop to $40, $38, and $36. The short-term outlook for LTC/USD shows that $43 and $42 remain the strongest technical support areas for the pair. Litecoin has its key resistance positions at $46, $48, and $50 on the daily chart. Meanwhile, the coins’ main support areas seat at $40, $38, and $36 on the same chart.
Litecoin News Today – A Break Above $44 Could Trigger a Move to $50
A break above $44 may propel the price of Litecoin to somewhere between $46, $48, and $50 all of which are resistance levels. The RSI for LTC/USD will likely go below level 40. This indicates that the bears may keep control of the market. Meanwhile, against the price of Bitcoin, LTC price is experiencing some difficulties. This situation has gotten worse in the last few weeks. Litecoin is trading under the 9-day and 21-day MAs. It may continue to drop further through the subsequent support areas to 4400 SAT. The coins’ critical support area is located at 4300 SAT and under. If the bulls eventually power the market, traders will likely find resistance at 5000 SAT and above. The price of Litecoin price is currently trading at 4625 SAT. There will likely be a surge in volatility as the coins’ RSI may go below level 40.